D.—2

Session 11. 1906. NEW ZEALAND.

RAILWAYS STATEMENT (1st August, 1906). BY THE MINISTER FOR RAILWAYS, THE HON. SIR J. G. WARD, K.C.M.G.

Mr. Speaker,— The presentation of this my seventh Railways Statement affords me very great pleasure, inasmuch as it imposes the pleasing duty of having to announce that the result of the operations for the year ending the 31st March, 1906, has been most satisfactory; and, notwithstanding the liberality of the forecast made at the end of the previous year, the actual earnings have exceeded the estimate by £109,704. The result may be summarised thus:— Y ear 1906. Year 1905. g""-* £ £ Total earnings .. .. .. .. .. 27*349,704 2,209,231 Total expenditure .. .. ... .. 1,621,239 1,492,900 Net profit on working .. ..' .. .. £728,465 £716,331 GENEKAL. The mileage of line open for traffic on the 31st March, 1906, was 2,406 miles, as against 2,374 miles for the previous year. The average miles operated during the year was 2,391. The following extensions were opened : — m. ck Kaiteratahi - Te Karaka .. .. .. .. ..55 Ahuroa - Kaipara Flats .. .. .. .. 5 46 Scargill-Ethelton .. .. .. .. .. 8 52 Paeroa-Waihi .. .. .. .. .. .. 12 24 Total .. .. .. .. .. .. 31 47 The capital cost of lines open for traffic, including plant and steamers on Lake Wakatipu, has increased from £21,701,572 last year to £22,498,972 for the year under review. The net revenue, £728,465, is equal to a return of 3*24 per cent, on the capital invested on the open lines, and 3*02 per cent, on the total capital of £24,092,085 invested in opened and unopened lines. The Kawakawa Section is the only section that has failed to pay workingexpenses, the deficit being £1,239. The number of train miles run during the year was 6,413,573, being an increase of 306,494. The increased train mileage represents additional facilities to meet the requirements of the business, and has cost over £75,000. The permanent increase to the train-service represents 30,838 miles per annum. The following figures, which give the record of the late arrivals of the principal trains during the year, indicate that the train-services have maintained punctuality. Average Late Arrival. Mina. Mins. For long-distance passenger trains .. .. .. 0-87, against 1-07 last year. For suburban trains .. .. .. .. 0-26, „ 0-3 „ For long-distance mixed trains .. .. .. l - 25, „ Tl5 „ i—D. 2.